Tata Motors is betting big on the electric vehicle market. The auto giant plans to launch 10 new battery electric vehicles by 2025, said Chairman N Chandrasekaran during his address to the shareholders in the 76th Annual Report.
"By 2025, Tata Motors will have 10 new BEV vehicles, and as a Group, we will invest proactively to set up charging infrastructure across the country. In addition, the Tata Group is actively exploring partnerships in cell and battery manufacturing in India and Europe to secure our supplies of batteries,” he said, adding that EV penetration of the company has increased to 2 per cent this year. The company has sold 4,000 Tata Nexon electric vehicles in FY21. The Chairman said that the company expects EV penetration to increase exponentially in the coming years.
Chandrasekaran said that Tata Motors will be the torch-bearer for green mobility in the automotive world and create a virtuous cycle of growth and returns. "We are clear that this shift to sustainable mobility is an idea whose time has come, and the Tata Group will move forward with speed and scale to seize this and proactively drive the change in consumer behaviour in India and beyond," he added.
The company has been exploring partnerships in cell and battery manufacturing in India and Europe. Chandrasekaran stated that Tata Motors is also evaluating the automotive software and engineering vertical within the group.
He predicted that greater emphasis and scrutiny will be placed on environmental sustainability and climate resilience into the very core of business models. Tata Motors aims to leverage these megatrends and make sustainable business models a bedrock of its strategy, he said. Jaguar Land Rover is targeting 100 per cent zero tailpipe emissions for its portfolio by 2036.
"Our companies are present in 150 countries, we employ over 750,000 people and touch the lives of 650 million consumers. I will be the first to say that we have a long journey ahead of us. But we are clear that this is the right journey we must undertake and have begun with pushing targets forward," Chandrasekaran said.
Copyright©2022 Living Media India Limited. For reprint rights: Syndications Today